SBFC Finance IPO: The IPO of non-banking finance company SBFC Finance (SBFC Finance IPO) has received a tremendous response from investors. Today was the last day to invest in IPO. And according to BSE data, SBFC Finance’s IPO closed with over 70 times subscription due to overwhelming response from institutional investors.
SBFC Finance’s IPO was open for investment from 3rd August to 7th August. The company had fixed a price band of Rs 54 to 57 per share. The company aims to raise a total of Rs 1025 crore through the IPO. The company has raised fresh shares worth Rs 600 crore in the IPO, while Rs 425 crore of the issued shares has been raised through offer for sale.
Looking at the subscription data, SBFC Finance had placed 3,75,83,331 shares for institutional investors. And applications have come for a total of 7,24,96,36,160 shares. This category has been subscribed a total of 193 times. Returns were placed for 2,81,87,500 shares for non-institutional investors and applications were received for 1,38,37,71,480 shares, this category was subscribed 49.09 times. 6,57,70,833 shares were reserved for retail investors and a total of 72,26,80,400 shares were applied for. This category has been subscribed 10.99 times. While the reserve quota of the employee has been subscribed 5.87 times.
SBFC Finance’s IPO is trading at a premium of Rs 40.50 in the gray market. That is, the IPO is expected to be listed on the stock exchange around Rs 97. SBF Finance Company mainly works to provide loans to small business i.e. MSME. Apart from this, it also gives loans to salaried and employed people. SBFC Finance can be listed on the Stock Exchange on 16 August 2023. ICICI Securities, Axis Capital Limited and Kotak Mahindra Capital Company Limited are the book running lead managers to the SBFC Finance IPO.
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